Professional Documents
Culture Documents
New Ap Questions
New Ap Questions
Name:- Hi , I am Rahul
Live:- I stay in Delhi at Dwarka
Qualification:- I Completed my graduation from MD University
Masters: I Completed my Post graduation in Finance & graduation in Commerce
Experience:- I have a total experience of 2 Years &
Currently i am working with ABC Ltd As an accounts Executive
& my
Job Responsibilities:- responsibilities are:-
1. I do validation & Verfication of Invoice
2. 2 Way & 3 Way match of Invoice
3. Check PO & service agreement before processing the Invoice
4. Ensure all invoice posted in correct GL & Cost Center
5. Process both PO & Non PO based Invoice
6. Check Statutory compliance like TDS & GST
7. I prepare customer statement & reconciltaion as well.
8. I also have Experience of releasing the vendor payment.
Name:- Hi , I am Rahul
Live:- I stay in Delhi at Dwarka
Qualification:- I Completed my graduation from MD University
Masters: I Completed my Post graduation in Finance & graduation in Commerce
I Completed my SAP training in FICO module from Sap Cubix & have good
knowledge of Payable, Receivable & General accounting.
Question 2:- Why are you looking for a Job Change? (For Experienced)
Answer:- FOr the sake better Opportunity & skill development, I am looking for
a Job Change.
For the sake better opportunity & enhancing my area of domain (Profile),
i am looking for a Job Change
Answer:- My decision making ablity, positive attaitude & learning attitute will
reaches me there.
Answer:- In Bank
Question 11:- Do you have the pay slips & appointment Letter with you?
Question 13 :- Is it negotiable?
Answer:- Yes it is
Answer:- Yes it is
Yes it is, I will try to Join you soon
Answer:- No
Answer:-
& being a young one i can accomdate in any shift & stretch
as per the process requirement.
Answer:- Its a well know brand & provides great ameneties & environment
to its employess. It will be a previliage for me to work with such a
brand as everyone want to be a part of it.
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24th Class:- Technical Questions
Planned PO:- In this PO, we know the price & quantity but we don’t
know the delivery date. For example:- we need 10 computer of 20,000
each but we don’t know when I need it.
Blanket PO:- This is used for long term purchase normally for a fixed
period & fixed quantity. For Example Rent, Maintenance etc.
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Question 44: What is Invoice? What does an Invoice Contain?
Question 46: How do you differentiate the Invoice & the Performa
Invoice?
Answer: 2 Way match where the Price & Quantity in the Invoice
Should be match with PO.
3 Way Match where the Price & quantity in the Invoice should be
match with PO & GR/IR Report.
2 Way Match is for Service & Material & 3 Way Match is for only
Material.
Question 54: You have a Material Invoice of, So Will you do 2 Way
or 3 Way Match or both?
Question 58: What is the very first Accounting entry created in P2P Cycle?
Answer:- The very accounting entry is created at the time of Material receiving
& the entry would be
Inventory Account Dr
To GR/IR Account
Question 59:- What is the journal entry is created at the time of creation
of Purchase order?
Answer:
1. FB60 is used to Post the vendor Invoice in SAP while FV60
is used to park the Vendor Invoice in SAP
Nominal Account
Dr all Expenses & Losses
Cr all Income & Gains
Example: Rent, Salary Debtors & Creditors Example: Bank & Assets
Maintenance, Freight All B/S items are comes
All P&L are comes under it
Personal Account
Dr the Receiver
Cr the Giver
Question 71: How long will it take to process the single invoice?
Answer:- The objective is to match both the books of the Seller as well as
the buyer & avoid any discrepancies.
Answer:- We need to provide the data like Invoice No, Invoice Date, Amount,
Remarks to the Vendor Statement.
Question 83:- What are the reason for Preparing the Vendor Reconciliation?
Sometimes the Purchase invoice & the Sales invoices don't match with the
Vendor Statement.
Sometimes the payment received & the payment release dont match.
Question 84:- How long will you take to prepare the vendor statement or
reconciliation?
Answer:-It depends on the number of line item, normally for three month
statement or reconciliation, it take around 1 hour to ptrepare the data.
Question 85: What is the difference between Vendor Statement &
Vendor Reconciliation?
Question 86: How many queries that you receive from Vendors?
Question 87: What is the TAT or the SLA for resolving the queries?
Answer: The TAT (Turn Around Time) or the SLA (Service Level
Agreement) to resolve the vendor query is 48 hours but we have
to respond the mail or acknowledge the mail at the same time.
Answer: I awarded as the Star of the month in Feb 2022 for clearing
the backlog of invoices when colleague left the organization.
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Class 27:- Technical Questions Part 3
Answer:- Payment terms is the terms between buyer & Seller for releasing the
payment. It could be immediate, 30 days or 60 days.
In the second step we have to run the proposal just to check the
details whatever we entered is correct or not.
Question 99:- You have released the payment twice What should you
do in that case?
Answer:-
1) You can adjust the payment with future invoice
2) Or we can refund to the vendor
Question 100:- When do you release the vendor payment in your current
organization?
Answer:- Means the income which is received in advance for example:- Rent,
Insurance etc.
Bank Account Dr
To Prepaid Income--------B/s Liablities.
Answer:- means the expense that has been booked but not yet paid.
Expense Account Dr
To Outstanding Expense Account----B/s Liablities Side
Answer:- means the expense in which we have the taken the service
but the bill against the said service has not been received or booked
in an accounting system.
Expense Account Dr
To Accrued Expense Account------------b/S Liablities
Answer:- means the assets that is used for a longer perioed & that
cannot be converted into cash easliy or Quickly.
Answer:- Its the deduction in the value of Fixed Assets due to wear & tear
Answer:- Vlookup measn vertical lookup that is used to retrive the data from
a range of cells based on column No. The formula is
Answer:- If there is any duplicate values in data then vlookup will pick the
first one rather than second one & gives us the incorrect result.
Question 118:- What is Sumif?
Answer:- Sumif is used to add all the number in a range of cell based on
column No. The Formula is
Answer:- Pivot table is used to sort, summarize & make the data presentable
& the shortcut is Alt N V T
Answer:- Billable Invoice means the invoice that is pertaing to the work
directly realted to the client project & that the client can reimbuse you.
Non Billable invoice means the invoice that you can not directly bill to
clients.
Answer:- T&E means travel & Employee reimbursement. When an employee travels
for a business the he can claim for the expense incured during business
& the T&E has to check the bills & reimburse it as per company policy.
Answer:- TDS means Tax deducted at source. Under TDS it is the liablity
of the service receiver to deduct TDS on behalf of service provider &
deposit the same amount to goverment on or before due date.
Answer:- from the 4th Character of the PAN No or 6th Character of the GST No
Answer:-An invoice and a bill are documents that convey the same information
about the amount owing for the sale of products or services, but the term
invoice is generally used by a business looking to collect money from its
clients, whereas the term bill is used by the customer to refer to payments
they owe suppliers for their products or services. An invoice and a bill
are essentially the same thing, but the two terms are typically used by
different parties involved in the same business transaction.
Answer:- GST means Goods & service tax. It is an indirect tax. India adopted
dual model of GST. In case of Intra state transaction CGST & SGST is levid
& In case of Inter State transaction IGST is levid.